Advisory Services Network LLC Reduces Stock Holdings in EQT Co. (NYSE:EQT)

Advisory Services Network LLC reduced its stake in shares of EQT Co. (NYSE:EQTFree Report) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,764 shares of the oil and gas producer’s stock after selling 1,911 shares during the quarter. Advisory Services Network LLC’s holdings in EQT were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EQT. Boston Partners bought a new position in EQT in the third quarter worth about $2,435,000. New York Life Investment Management LLC raised its position in shares of EQT by 0.7% in the 3rd quarter. New York Life Investment Management LLC now owns 51,797 shares of the oil and gas producer’s stock worth $2,102,000 after acquiring an additional 343 shares in the last quarter. Banco Santander S.A. purchased a new position in shares of EQT in the 3rd quarter valued at approximately $516,000. First Command Advisory Services Inc. bought a new stake in shares of EQT during the third quarter valued at approximately $54,000. Finally, Payden & Rygel Investment Group purchased a new stake in EQT in the third quarter worth $9,253,000. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Down 0.3 %

EQT stock opened at $40.98 on Tuesday. The business’s 50-day moving average is $38.95 and its two-hundred day moving average is $37.62. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 29.70 and a beta of 1.06. EQT Co. has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88.

EQT (NYSE:EQTGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $1.70 earnings per share. The firm’s revenue was down 28.8% compared to the same quarter last year. As a group, analysts forecast that EQT Co. will post 1.03 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, May 7th. EQT’s payout ratio is 45.65%.

Analyst Ratings Changes

EQT has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of EQT in a report on Tuesday, March 5th. The Goldman Sachs Group cut their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Piper Sandler reiterated an “overweight” rating and set a $46.00 price objective (up previously from $41.00) on shares of EQT in a research note on Tuesday, April 30th. Mizuho lifted their target price on shares of EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, BMO Capital Markets raised their price target on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.94.

Get Our Latest Stock Report on EQT

Insider Transactions at EQT

In related news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares in the company, valued at $6,642,900.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Lesley Evancho sold 46,884 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

EQT Profile

(Free Report)

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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